China is setting the stage to become the new world reserve currency. As Obama crushes the United States with Debt, China makes a move to Internationalize their currency for world trade and lending purposes.
THIS is an indicator that the global banking cartel has made their provisions for the time when the US defaults on their debt to the Federal Reserve….and just to be clear…CHINA is a part of the banking cartel in so much as they do business with HSBC ( wikipedia that) and further, be aware that both congress and the POTUS are very clear about what is coming down the Pike, for YOU.
YOU should. Prepare for Economic Disaster and know this: The Trans Pacific Pact will destroy YOUR vote, your rights and ALL countries rights to self govern. America will be the most hated country on the planet. As an American, YOU represent this predatory creeping Empire Building. Dont like it? Then CHANGE IT…..now, before you cannot.
The deal, signed between the People’s Bank of China and the European Central Bank (ECB), aims to support bilateral trade and protect financial stability, an official statement here said.
The central banks of China and the European Union have agreed to supply each other with their currencies.
The deal is aimed at accelerating the internationalization of China’s currency, the yuan, and increase trade and investment between the country and the eurozone.
The People’s Bank of China said on Thursday that it concluded the currency swap with the European Central Bank.
The agreement provides a maximum of 350-billion yuan, or about 56-billion dollars, to the ECB and 45-billion euros, or 60.8-billion dollars, to the PBC.
The deal is to last for 3 years with the possibility of extension if the banks consent to do so.
The agreement allows the banks to borrow currency from each other to provide funds to banks in China and eurozone countries in case of financial emergencies.
PBC officials say the deal will provide additional liquidity for Europe’s yuan market and boost trade and investment involving the currency.
China has already set up currency swap lines with Singapore and Britain to internationalize the yuan.
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